Labor Market Outlook: January 2014

UNEMPLOYMENT DECREASED THANKS TO CONSTRUCTION

Seyfettin Gürsel, Gökçe Uysal and Ayşenur Acar

Seasonally adjusted labor market data shows that non-agricultural unemployment rate decreased from 12.5 percent to 12.1 percent (0.4 percentage points) in the period of October 2013 compared to the period of September 2013. This unexpected decline was due to the large increase in non-agricultural employment, most of which was in the construction sector. Seasonally adjusted employment increased by 99 thousand from the period of September 2013 to the period of October 2013. Hence, unemployment rate decreased by 0.5 percentage points. Consequently, seasonally adjusted non-agricultural unemployment rate increased from 11.4 percent in October 2013 to 11.9 percent in September 2013.

doc. LaborOutlook2014M01

pdf. LaborOutlook2014M01